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Mining altcoins (e.g. Ethereum mining) is cheaper than what youd need in order to mine Bitcoin. But this only means that the hardware will cost less. Another hassles of power expenses, configurations, maintenance and so on are essentially exactly the same.

Sometimes youll encounter a website or cellular program that tells you they will mine coins to you. The majority of these services are basically useless and will often consume your devices computing power and battery life simply to give you a couple of cents in return.

Another option is cloud mining paying someone else to handle the mining equipment for you. When this sounds ideal, the majority of the cloud mining sites today are simply pretending to use your money for mining operations, they are in scams.

Furthermore, while there are a few legit sites on the market, the money youd cover them to mine Bitcoin is probably better invested just buying Bitcoin. Obviously we always urge you to do your own market research since in the end, its own money.

A very common way of growing your Bitcoin riches is through Bitcoin lending platforms. These sites connect borrowers that need crypto with crypto owners who lend their coins to get an interest rate. As such loans are ultra insecure the interest rates are pretty high that initially looks like a good thing. .

Well, since there is no true collateral that holds the borrower liable for the loan more often than not these loans default and lenders are abandoned with no money.

Weve tested out several loans here at 99Bitcoins, and they eventually defaulted. Thats why I recommend to stay away from this specific method.

Another method I suggest you avoid are coin doublers and higher Yield Investment Programs also known as HYIPs. These are websites that promise to double your coins every couple of days or provide you unreal interest prices.

What these sites really do is take money from new users and use that money to pay off older users. This process creates a great deal of buzz around the website which seems to be untrue and solvent.

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On top of this, they almost always have some kind of referral program so that users can bring their friends on board.

This is the way a Ponzi scheme works. This can go on for around 3-4 months until one day that the website will only go offline and the money will be gone. No more payments will be made and a lot of people will get mad that they got scammed.

We visit here have reviewed many Bitcoin investment websites in the previous 3 years and have yet to find a site which we can state is  safe to invest in. Any website that guarantees you something that is too good to be true is likely only a facade for individuals trying to steal your coins. .

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How can you find out if a website is a scam to get yourself Easy, utilize our Bitcoin scam test tool to get a fair assumption about a sites validity.

Starting around August 2017 Bitcoin began forking into other coins. In a nutshell, forking  means a new Bitcoin clone originates from the existing Bitcoin. Every person who held Bitcoin before the fork can now also claim the new coin too.

The first popular branch was Bitcoin Cash, but soon after followed Bitcoin Gold, Bitcoin Diamond and much more. The procedure for claiming forked coins (aka forkcoins) is standard but requires an above fundamental understanding of how Bitcoin works. You can view our fork claiming guide .

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Keep in mind that if youre not sure what youre doing when claiming a forkcoin you might end up losing your Bitcoins. So for most non technical customers it would better to pass on a fork and maintain your Bitcoins secure. Other alternatives include companies that claim the coins for you personally and have a commission but this may easily turn into a scam which runs away with you money. .

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Once you maintained a forkcoin you can sell it on an exchange for Bitcoin or other cryptocurrencies assuming it has a market.

Airdrops are similar look at this web-site to forks in the sense that you get coins out of thin air. Airdrops are often utilized to spread the word in a certain cryptocurrency. The currency is distributed freely to the public, although try here in certain situations some conditions can employ.

For instance, Byteball was distributed publicly to Bitcoin users depending on the amount of Bitcoins they owned.

To conclude, forks and airdrops could possibly be the highest value for time method you can use to create money from your Bitcoins however they can be SUPER insecure. I would recommend that you use these methods only after ample research and a good understanding of the claiming process.